Piggyback Mortgage — a second mortgage that closes simultaneously with the first mortgage to reduce the total necessary down payment. (vermontmortgagecompany.com)
The Pledged Asset Mortgage allows a prospective home buyer who has sufficient income to meet monthly payments toward a home, but who can not save the necessary down payment, to borrow up to 100 percent of the sales price when a family member pledges a stable financial asset equal to 30 percent of the loan amount. (mortgage-x.com)
If you are currently renting, this disparity in growth could get you caught up in a cycle where increasing rents continue to make it impossible for you to save for a necessary down payment. (simplifyingthemarket.com)